Amanath Co-operative Bank

Overview

On 13th January, 1977, Janab Dr. Mumtaz Ahmed Khan and Janab K.Rahman Khan founded the Amanath Co-operative Bank and within a short span of 26 years, the Bank has attained the status of Karnataka's first scheduled Urban Co-operative Bank. With a small capitalbase of Rs. 3 lakhs, the bank has grown to be the largest Urban Co-operative Bank in the state,with a deposit of over Rs. 440 crores, working capital of Rs. 505 crores and net owned funds of Rs. 29.53 crores.
The Bank that began with just 3000 members, now boasts of nearly 41000 members. The depositors and account holders, who exceed 2.54 lakhs in number, are serviced by the 15 branches in the state. Many more branches are scheduled to open shortly with the aim of extending the area of operation in the state.
Amanath Co-operative Bank Ltd. offers ATM facility at its branches at Brigade Road, Gangenahalli, N.R. Road, Shivajinagar, R.V. Road, Ilyas Nagar, Mangalore and Gulbarga. The Bank has stepped into the new millennium incorporating the latest development in banking and Information Technology with a resolve to make banking with Amanath a pleasure.
The microcosm of its objective is "MASS BANKING" right from its inception. Hence, the major thrust of the bank has been to inculcate the banking habits among middle and lower strata of the society, mostly in hitherto unbanked / underbanked areas. Keeping this objective in view, Amanath Bank opened branches in such areas which are predominantly resided by middle/lower income groups and the areas concentrated by minorities and backward classes to whom commercial banks are not easily accessible. The bank has, therefore adopted selective policy in the opening of branches by identifying the centres where there is a good potential for inculcating the habit of saving amongst the people and at the same time, providing much needed finance to these people, not only to meet their domestic needs but also for developing their businesses, and in the process helping them become self-sufficient. Keeping this objective in view, Bank has introduced a scheme called 'MICRO-CREDIT' for the benefit of poorest among poor by involving SHGs and NGOs who are working for the economic upliftment of the poor. The last decade has seen a meteoric rise of the bank in all spheres which is reflected in the financial indicators furnished in the table below.
The bank has 419 employees on its roll, including 74 Officers. Human resources being the most important asset of the bank,all out efforts are made to enhance the motivational level and efficiency of the employees. In-house capabilities for imparting adequate training to the employees continued to be a major strength of the bank. Training is being provided to make them more competitive and customer oriented.
The Bank has bagged the "Best Urban Co-operative Bank" award for the second successive year from the Karnataka State Co-operative Federation and Karnataka State urban Banks Federation.
The Reserve Bank of India conferred the "Scheduled Status" on Amanath Bank effective from 29th January, 2000 and has included the name of the bank in the second schedule to the Reserve Bank of India act, 1934. Amanath Bank is the first urban Co-operative bank in Karnataka to be awarded this prestigious status. The conferment of "Scheduled Status" will enable it to render more service to the members, clientele and the society. The past achievements are the source of inspiration for future progress and prosperity.
The bank has also excelled in the field of sports by winning both the "Inter-Bank Cricket Tournament"organised by the Canara Bank and the "Inter Co-operative Banks Cricket Tournament" in 2000.

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